Penn State CEO: Business Incubator has a Competitive Edge
Feb. 24, 2005
Hazleton Standard-Speaker
By Jim Dino
The Hazleton area's business incubator has an advantage over other business incubators in northeastern Pennsylvania, one of the principal players in the incubator says.
Dr. John Madden, campus executive officer at Penn State Hazleton, told a Greater Hazleton Chamber of Commerce Red Carpet Breakfast Wednesday morning at the campus that the Greater Hazleton Business Innovation Center, located across Route 93 from the university campus in Valmont Industrial Park, has real possibilities.
"I believe this incubator has a real competitive edge," Madden said. "It is the only incubator in northeastern Pennsylvania with manufacturing space."
Madden said the university will add its vast resources to the center, known by the acronym Community Association for New Business Entrepreneurship.
"This is an exciting time," Madden said. "An incubator is about people with ideas and we have several in this area. The goal is to catch the idea in an earlier stage of development. We can encourage development of the idea and help to refine and improve it, make it plausible,"
The educator said the business, information systems – or computers – and other campus faculty will be available to help.
"Penn Sate will provide technical, engineering, legal, business and financial expertise," Madden said.
" Penn State has an industry research office, which is connected to 143 research centers. We are capable of bringing technical support for a nanofabrication lab and an applied research lab."
Madden pointed out that Gary Miller, a member of PENNAP – the university's technical assistance program designed to bring technology to commercial application – will have an office right in the incubator.
The incubator is part of the Northeastern Pennsylvania Keystone Innovation Zone, a program started by Gov. Ed Rendell designed to create "knowledge neighborhoods."
"It's going to be hard to make it work," Madden said.
"It will take a lot of persistence and patience. But there is a lot of assistance."
Aside from Penn State , he Northeast Technology Institute – an arm of the Great Valley Technology Alliance, which brings together the resources o the region's colleges and universities – will also play a role.
Other contributors include Ben Franklin Technology Partners, Luzerne County commissioners, PPL Electric Utilities and State Rep. Todd Eachus, D-116.
Joe Barrett, director of the incubator, said a panel of potential mentors – members of the business community willing to donate their time – has been formed.
"We are ready for occupancy," Barrett said.
"The incubator is ready to begin handling clients. We have a nine-member mentor board. We will help develop a business plan (for the client)."
Luzerne County is in the process of establishing a loan fund to assist entrepreneurs at the Hazleton and Wilkes-Barre incubators.
"The county is working on developing a revolving loan fund, an Idea Fund," Barrett said.
The director said CAN BE is focusing on technology-based ideas, but is willing to hear any idea for a product someone may have.
"We want to create high-quality technology jobs. We have to judge the ideas on a case-be-case basis."
The purpose behind an incubator – aside from providing low-cost space – is to allow the inventor to focus on the invention.
"We provide turnkey services so that the entrepreneur can focus on the core of the business," Barrett said. "We want to bring about the best chance for success."
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